14724 Nantucket Rd · North Fort Myers, FL 33917

$75,000

2 bd · 2.0 ba · 864 sqft · Condo public records · 11 Days on market

Built 1981

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

EXCELLENT OPORTUNITY TO OWN 2 BEDROOM 2 BATHROOM IN 55+ CO-OP BOATING COMMUNITY right on the huge Caloosahatchee River, located just minutes from downtown Fort Myers. Old Bridge Village Park boasts two small islands, large Clubhouse and on-site Park Office. Community is packed with ACTIVITIES and AMENITIES: Pot-luck dinners, Live music dance, Movie nights, Holiday parties, Yacht club parties, Shipwreck party, Boat-to-Lunch, Cards tournaments and SO MANY MORE THINGS TO DO. Just next to clubhouse is brand-new resort style heated pool and jacuzzi. Fitness center is equipped with the latest equipment. Community enjoy Pickleball, Shuffleboard, Bocce ball, Horseshoes and Tennis courts. All amenit

Key facts

• Fitness center
• Caloosahatchee river
• Private marina

Tags

• CALOOSAHATCHEE RIVER
• LARGE CLUBHOUSE
• RESORT STYLE HEATED POOL
• FITNESS CENTER
• PRIVATE MARINA
• CORNER LOT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $-14 ($-168/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 12.9% vs local median 3.6% in North Fort Myers — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Lee (suburban): math 47% / reading 50% proficiency, ranked #42 of 73 in FL (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.6%/yr); 841 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 33% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 21% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.00% ✓
• Cap rate: 12.89%
• Cash-on-cash: 23.57%
• DSCR: 2.05
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.37×
• Total profit: $-13,160
• Equity at exit: $11,183

10-year hold

• IRR: -10.3%
• Equity multiple: 0.38×
• Total profit: $-13,083
• Equity at exit: $6,485

Cash invested: $21,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,497 high
• Mortgage (P&I): −$393
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$31
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA est. from 1 same-building comp: −$316
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $-14

Break-even live

Break-even rent $1,515

Max offer price $72,529

Occupancy floor 96%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7050 Nantucket Cir #6 North Fort Myers, FL	2.0	2.0	950	$3,000	$3.16	16d	1	0.24mi
7050 Nantucket Cir North Fort Myers, FL	2.0	2.0	950	$3,000	$3.16	23d	1	0.24mi
257 Poe Ave North Fort Myers, FL	2.0	1.0	870	$1,175	$1.35	3d	1	0.27mi
5713 Foxlake Dr #5 North Fort Myers, FL	2.0	2.0	830	$1,400	$1.69	19d	1	0.33mi
5707 Foxlake Dr #2 North Fort Myers, FL	2.0	2.0	1114	$1,500	$1.35	23d	1	0.41mi
15427 Crystal Lake Dr North Fort Myers, FL	2.0	2.0	1021	$3,200	$3.13	23d	1	0.41mi
1056 Old Bridge Rd North Fort Myers, FL	2.0	1.0	1100	$1,350	$1.23	23d	1	0.48mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,575	$1.55	23d	1	0.53mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,550	$1.53	3d	1	0.53mi
15610 Crystal Lake Dr North Fort Myers, FL	2.0	2.0	968	$1,850	$1.91	23d	1	0.55mi
15610 Crystal Lake Dr #101 North Fort Myers, FL	2.0	2.0	998	$1,900	$1.90	23d	1	0.55mi
137 Lantern Pl North Fort Myers, FL	1.0	1.0	580	$975	$1.68	2d	1	0.85mi
137 Lantern Pl Unit A North Fort Myers, FL	2.0	1.0	1080	$1,200	$1.11	2d	1	0.85mi
1916 Flamingo Dr North Fort Myers, FL	2.0	1.0	852	$1,275	$1.50	23d	1	0.88mi
1916 Flamingo Dr North Fort Myers, FL	2.0	1.0	852	$1,250	$1.47	3d	1	0.88mi
69 E Mariana Ave Unit B North Fort Myers, FL	3.0	1.0	1000	$1,795	$1.79	3d	1	0.95mi
121 Coachlight Ln North Fort Myers, FL	1.0	1.0	552	$795	$1.44	23d	1	0.98mi
234 Lamplighter Ln North Fort Myers, FL	2.0	2.0	864	$895	$1.04	14d	1	0.99mi
226 Lamplighter Ln North Fort Myers, FL	2.0	1.0	900	$899	$1.00	23d	1	1.00mi
106 Gaslight Ave North Fort Myers, FL	2.0	2.0	1056	$1,400	$1.33	3d	1	1.00mi
280 Flame Ln North Fort Myers, FL	2.0	2.0	980	$1,350	$1.38	3d	1	1.00mi
112 Crescent Lake Dr North Fort Myers, FL	2.0	1.0	980	$1,700	$1.73	23d	1	1.06mi
1846 Powell Dr Unit 28 North Fort Myers, FL	1.0	1.0	850	$1,500	$1.76	3d	1	1.08mi
249 Fireball Ln North Fort Myers, FL	2.0	1.5	624	$1,350	$2.16	3d	1	1.09mi
7306 Coon Rd North Fort Myers, FL	2.0	1.0	1000	$1,300	$1.30	11d	1	1.13mi
21 Crescent Lake Dr Unit 21 North Fort Myers, FL	2.0	1.0	900	$1,550	$1.72	23d	1	1.14mi
947 Strongbox Ln North Fort Myers, FL	2.0	2.0	1000	$1,300	$1.30	23d	1	1.18mi
7535 McDaniel Dr North Fort Myers, FL	2.0	1.0	644	$850	$1.32	23d	1	1.22mi
7535 McDaniel Dr North Fort Myers, FL	2.0	1.0	644	$850	$1.32	13d	1	1.22mi
1526 Wood Rd North Fort Myers, FL	1.0	1.0	912	$1,500	$1.64	3d	1	1.25mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-17
   days on market $75,000 Active 11 DOM
2. 2026-06-16
   days on market $75,000 Active 10 DOM
3. 2026-06-16
   days on market $75,000 Active 9 DOM
4. 2026-06-13
   days on market $75,000 Active 7 DOM
5. 2026-06-09
   days on market $75,000 Active 3 DOM
6. 2026-06-07
   remarks 699-char remark
7. 2026-06-07
   listed $75,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $356 · $30/mo
• Projected year-2 tax: $622 · $52/mo
• Expected delta: +$267/yr (+$22/mo · 74.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,966
• − Mortgage interest: −$4,201
• − Property taxes: −$356
• − Insurance: −$5,494
• − Repairs & maintenance: −$1,437
• − Management: −$1,437
• − HOA: −$3,792
• − Depreciation: −$2,182
• Taxable loss: −$933
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $56/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lee
• NCES district ID: 1201080
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $49,518
• Composite: 41.49/100
• National rank: #3458
• State rank: #42 of 73 in FL

Livability — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 871,946 people
• By 2030: 955,468 · +9.6%
• By 2040: 1,113,587 · +27.7%
• By 2050: 1,256,891 · +44.1%
• By 2075: 1,560,270 · +78.9%
• By 2100: 1,726,848 · +98.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+28.4) · D 35.5% · R 63.9%
• 2008→2024 swing: -18.0pp toward R · 2008: -10.4pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+19.2 2016: R+20.4 2012: R+16.6 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• Metro: Cape Coral-Fort Myers, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-99.8% since first listed

2 events — show timeline

• 2026-06-07 Listed $75,000 FSBO.com
• 2002-07-19 Sold (Public Records) $30,000,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $356 · -7.6% YoY. Source: county tax records.